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Thyssenkrupp’s sale talks for steel joint venture HKM fall through

Published 21/02/2025, 12:48
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TKAG
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Investing.com -- German industrial conglomerate Thyssenkrupp (ETR:TKAG) announced on Friday that negotiations with potential buyer CE Capital Partners (WA:CPAP) for the sale of its steel joint venture Huettenwerke Krupp Mannesmann (HKM) have ended without a deal.

Thyssenkrupp owns a 50% stake in HKM, alongside its German peer Salzgitter (ETR:SZGG) and France’s Vallourec (EPA:VLLP). The sale of this share was part of Thyssenkrupp’s strategy to enhance its efficiency and profitability.

The company expressed regret over the unsuccessful negotiations. "We deeply regret this development. It was and is our primary objective to sell the shares in HKM in order to give the company and its employees prospects for the future," Thyssenkrupp said in a statement.

Despite the setback, Thyssenkrupp remains open to resuming talks with CE Capital Partners or engaging with other potential buyers for its stake in HKM. The company’s intent to sell its share in the joint venture remains unchanged.

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